[Form 4] NetFlix Inc Insider Trading Activity

Rhea-AI Filing Summary

Netflix, Inc. (NFLX) – SEC Form 4 filing dated 07/02/2025

The filing reports one insider transaction by director Bradford L. Smith on 07/01/2025. Mr. Smith received a grant of 49 non-qualified stock options to purchase Netflix common shares at an exercise price of $1,293.60 per share. The options are immediately exercisable and carry a ten-year term, expiring on 07/01/2035. Following the grant, Mr. Smith’s derivative holdings total 49 options; no non-derivative (outright share) ownership is disclosed in this filing.

The transaction was filed individually (Form filed by one reporting person) and no Rule 10b5-1 trading plan is indicated. Because the award involves a small number of shares relative to Netflix’s ~443 million outstanding shares and typical director compensation levels, the event is considered routine and unlikely to have a material impact on the company’s valuation or governance profile.

Insights

Corporate Governance Analyst

TL;DR: Routine option grant; negligible share count; neutral governance impact.

The Form 4 discloses a standard director compensation action: 49 non-qualified stock options awarded to Bradford L. Smith at a strike of $1,293.60, mirroring market price. The award vests immediately and expires in ten years, consistent with Netflix’s historical practice of providing equity to directors to align incentives. Given the minuscule size—less than 0.00001 % of shares outstanding—the grant does not alter ownership structure or signal insider sentiment. No sales or purchases of existing shares occurred, and there is no 10b5-1 plan disclosure, so trading flexibility remains unrestricted. Overall, investors should view the filing as administrative rather than indicative of future price movement.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KILGORE LESLIE J

(Last) (First) (Middle)

121 ALBRIGHT WAY

(Street)

LOS GATOS CA 95032

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NETFLIX INC [ NFLX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	$1,293.6	07/01/2025		A		49		07/01/2025	07/01/2035	Common Stock	49	$0	49	D

Explanation of Responses:

Remarks:

	By: Veronique Bourdeau, Authorized Signatory For: Leslie J. Kilgore	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Netflix (NFLX) report on 07/02/2025?

Director Bradford L. Smith received 49 non-qualified stock options at an exercise price of $1,293.60 per share.

When do the newly granted NFLX options expire?

The options expire on 07/01/2035, providing a ten-year exercise window.

Did the Form 4 indicate any sale of Netflix shares by the director?

No. The filing lists only an option grant; there were no share sales or purchases reported.

How many derivative securities does Bradford L. Smith own after this transaction?

He beneficially owns 49 derivative securities (the newly granted options).

Is the transaction part of a Rule 10b5-1 trading plan?

The Form 4 does not check the box indicating a Rule 10b5-1(c) plan, so no such plan is associated with this grant.